Nithin Kamath says new UPI charges on investing, broking don’t make sense: 'I don't see how we can absorb this indefinitely'
Zerodha CEO Nithin Kamath said the new UPI MDR framework may not make economic sense for investing and broking, where customers can transfer funds without trading. He said brokers may struggle to absorb the costs indefinitely, particularly under quarterly settlement rules, and suggested a lower MDR with a transaction-level cap.
I think MDR on UPI was probably inevitable at some point, especially given how widespread UPI adoption has become. It could also lead to more competition, instead of just three apps accounting for more than 95% of the market. That being said, there are some use cases, like…
👉 UPI Continues to Remain Free for Peer to Peer Transactions and 96% of Merchant Transactions 👉 The new UPI framework introduced has no impact on any person to person transactions 👉 UPI will continue to remain completely free for all person-to-person transactions,… pic.twitter.com/lYVzehs6lU
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